Why do tech companies pay for the data collected by mobile Apps, How can they possibly use them?

Question

As not so recent news truecaller collects earns more because it collects almost every data there is on your mobile, But why?

Answer 1

for example. if you go to a train station every day your phone will collect that gps data. if there is a Starbucks there apps can then send you targeted ads. for example an ad for starbucks and you go buy starbucks then. or at least that is the idea.

Answer 2

probably no need.. it is a bit like sifting for gold with a gold pan. they take everything and maybe find a gold nugget or maybe someday it can be useful. for example when SkyNet happens 😉

Answer 3

Yaa that is one thing, but what I mean are the real personal data, like accessing media to show pictures to you only is one thing, but through that same access, our data is collected on their servers, Why do they need THAT!! 😅